New Delhi, May 20 (PTI) Union Bank of India (UBI) on Thursday said it has raised Rs 1,447 crore through qualified institutions placement.

The bank's qualified institutions placement (QIP) issue had opened on May 17 at an issue price of Rs 33.82 per share.

"The committee of directors for raising of capital funds at its meeting held on May 20, 2021, approved the closure of the issue period for today (May 20) subsequent to receipt of application forms for an aggregate amount of Rs 1,447.17 crore from eligible qualified institutional buyers," it said in a regulatory filing.

Shares of the bank closed 0.41 per cent up at Rs 36.85 apiece on BSE.

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